In-depth: Global market wrap-up


time now for an in-depth look at the
market news this afternoon and for that I’m joined on the line by dr. Hong Soo
yung professor of economics at joon-young university professor song
thank you for making time today yeah so Apple is saying it’s not going to be
able to meet its revenue expectations because of the coronavirus US stocks
were down a bit Tuesday what’s the story in the global markets and here in Korea
yeah particularly is East Asia the impact of coronavirus 19 could drag on
longer than expected because of the slowdown of production recovery in China
and particularly the semi among the semiconductor industry including Apple
Intel Qualcomm who has manufacturing sites on the soil of China they have
suffered so much in terms of a stock slice that prices slide but ironically
the nasta has gained a little bit so I think the market looks hoarding cash and
prepared for the sudden and strong recovery of the economy well some Korean
companies have been as you referenced the slowdown in production in China they
may find themselves in big trouble because of the impact on their supplies
president moon is declared an economic emergency in Korea in fact what needs to
be done here yeah I think this fiscal stimulus policy looks indispensable and
the accommodative monetary policies should be ready if ready to be deployed
if necessary but in within the domestic economy actually the small and medium
enterprises should be hit most severely because of the contracted demand and the
temporary sector cannot be avoided because of the sluggish recovery optic
consumption therefore the government should continue the current position
they are rolling out measures in many different areas to help small businesses
the self-employed and others but now on another note we see gold as a safe haven
it’s risen for the first time in seven years to $1,600 an ounce tell us about
that other safe havens perhaps and where you think gold is going
yeah I believe the goal should not be considered as a safe quality asset
because its price is too much Bala tile according to the the kid called oh the
gold price a pro a provider has shown that the one-year price change of the
Goldi is almost a thirty two point eight nine percentage point simply is too
volatile therefore gold should be regarded as a temporary shelter
particularly as a substitute for our US dollar currency but he cannot should not
people should not rely too much on the gold because simply it’s very similar to
the Bitcoin therefore gold according as long as all the currency has suffered
and all the economy has hit by the coronavirus gold could be a substitute
or but otherwise gold should be treated with a caution and we need an approach a
cautious approach to the gold it seems like any stability in gold you only
really see over very long periods of time actually gold even though the golda
have according to the data there is a very volatile therefore shouldn’t be
should be a considered as a safe asset relatively oldies like an insurance
always they when the economy took a lot more economy suffered an the gold prices
increased so therefore unless they although unless we have faced us such as
economic crises such as in 2008 then just a– used the gold as a temporary
shelter so if things clear up on the coronavirus it could come right back
down right alright professor song will have
to leave it there for now thanks for sharing your insights with us today
yeah thank you

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